How Much Do You Make Per Hour In Real Estate?

How much do you make per hour in Real Estate? I am reading a great book that has yet to hit the shelves. Keller Williams agents were lucky enough to get advanced access to "The One Thing" by Gary Keller and Jay Papasan. Actually, anyone can get access to it with that link. If you preorder a hard copy, you will receive a downloadable eBook that you can put on an iPad or Kindle, which is how I am almost done with it.

The theme of the book is "What is the one thing that you can do NOW that will make everything else easier or unneccessary." It also goes much deeper into the psychology of multitasking and motivation, but that will be for another post.

As I began thinking about this, I thought what is the one thing I can do NOW that will make everything else easier or unneccessary for me? I narrowed it down to a few things, but had trouble getting it down to one. How can it be just one? If you focus all of your energy and efforts on one thing, small things will slip through the cracks.

That is when I began to think about leverage. You have 2 things in this world that you can leverage in any situation: Time and Money. For example, tonight I spent 2 hours doing yard work. Was that the best use of my time? Probably not. I could have been making phone calls, blogging, tweaking my website, or on a listing or showing appointment. Instead, I should have leveraged my MONEY instead of my time and hired someone to do that.

So how much do you make per hour in real estate? This is a very important question to ask yourself. It doesn't have to be based off of what you made last year vs the time you spent working. It should be the amount that you would be HAPPPY making in the amount of time that you would be HAPPY working. EVERYTHING that you do should be focused and centered around this one ideal - what can you do to ensure that you make what you want to make.

Again, you have time and money as your resources. Add up the amount of time that you spend doing "menial" work - working ON your business instead of in your business. Once you add up that amount of time, compare that to your desired hourly wage. Does it add up? My guess is no, it doesn't. You probably spend more time on these tasks than you want and less time on tasks that could be bringing in another commission check.

For me, I have decided that it is time to leverage my money, rather than my time, to get these tasks done. There are a huge number of tasks that I do on a daily and weekly basis that could easily be hired out at a much cheaper cost than my desired hourly wage. It is time to hire an assistant. Yes, it will cost money to pay the assistant, but by leveraging that money it will free up my time to work where I work best - in front of clients and generating leads instead of doing paperwork and other simple yet time consuming tasks. This additional time in front of clients and lead generating will help me grow my business even further, bringing in more money. It will also free up my time to spend with my friends and family, and perhaps even a little "me" time.

I will leverage the power of money to bring back something that is even more precious: Time. Perhaps you, too, need to start leveraging your money to free up some of this quality time. So how much do you make per hour in real estate? Are you happy with it?

This has been an item for discussion for years in real estate. Breaking down the activities in a real estate transaction and then determine which ones are skill based for a transaction and which ones could be handled by an assistant. I broke it all down and put it on a spreadsheet a few years ago. It helped me manage my time more effectively.

Eric: You are welcome. That book puts a lot of things into perspective - a perspective that I seriously needed.

Chris: Like I said in the article, preorder the book and they give you an instant eBook download. Good stuff.

Alan: It doesn't have to be how much you make NOW, it should be about how much you WANT to make. You may only make $5 per hour now, but you WANT to make $10. How do you get to the point where you can make that extra $5? Perhaps it is hiring an assistant to take some of the things off your plate so that you can go out and sell more which would cover her salary plus your $10 per hour. Make sense?

Lorrie: I'll be shooting you an email here momentarily. Thanks!

Cindy: Any chance you would mind sharing that spreadsheet? ;)

Keith: Working ON your business is important to learning how the business works and learning everything that goes into it. Once you have learned that, it is time to start working IN your business and let someone else handle the other stuff so you can focus on customer service and sales.

I enjoyed your post, and while I do operate my own brokerage, KW is a company that I look to for ideas and insight. I am having my best year yet, and I am working on the numbers to see if I am where I want to be. Best of good success to you this year!

I've been trying to get people to understand this argument for years. Is it really worth taking that $50,000 listing that's an 80 mile round trip from your office? Is it really worth getting worked up over $100 of repairs after an inspection...probably not worth your time!

Jordon: If you look to KW for insight and ideas, why not join Keller Williams? There are a ton of benefits to joining the #1 real estate company in the United States. Give me a call to discuss the possibility. You might be surprised what you'd find out.

Carla: It is never enough, but it can be enough to be HAPPY and that's what it is all about.

Christine: It is a tough decision. Lots of responsibility comes with leveraging and hiring an assistant, but if you can do it smart and do it right, you can do it well. That is why I have found the Keller Williams Recruit Select class such an amazing tool.

Praful: Thank you. The decision has been made... now the tough part is finding the right person for the job. Recruit Select teaches us not to hire out of deperation, hire because they are the right fit. The search for that fit begins now.

Marc: You are absolutely right. This is why I no longer handle lease clients or do open houses. I can spend my time doing better activities that will generate more leads and more revenue. I am happy to refer out those lease clients to a new, hungry agent who needs the paycheck.

Bryan: Like Jordon, perhaps you should pair your expertise with the systems and technologies of Keller Williams to grow a huge organization? Feel free to give me a shout to see how you can leverage the brand as well.

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